Yahoo Finance Barrick Gold (GOLD) Gains But Lags Market: What You Should Know
In the latest trading session, Barrick Gold (GOLD) closed at $16.05, marking a +0.82% move from the previous day. The stock lagged the S&P 500's daily gain of 3.06%. Meanwhile, the Dow gained 2.8%, and the Nasdaq, a tech-heavy index, added 0.19%.
Prior to today's trading, shares of the gold and copper mining company had gained 6.85% over the past month. This has outpaced the Basic Materials sector's loss of 1.23% and the S&P 500's loss of 6.15% in that time.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release. In that report, analysts expect Barrick Gold to post earnings of $0.23 per share. This would mark a year-over-year decline of 4.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.09 billion, up 9.27% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $1.03 per share and revenue of $11.71 billion. These results would represent year-over-year changes of -11.21% and -2.31%, respectively.
It is also important to note the recent changes to analyst estimates for Barrick Gold. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.12% lower. Barrick Gold is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Barrick Gold currently has a Forward P/E ratio of 15.51. This valuation marks a discount compared to its industry's average Forward P/E of 17.5.
Also, we should mention that GOLD has a PEG ratio of 7.75. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Gold was holding an average PEG ratio of 3.24 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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